Reliance Industries (RIL) chairman Mukesh Ambani on Thursday said that West Bengal should go for a digital drive to lead the fourth industrial revolution with Reliance Jio already making one tenth of its total investment in the state in the digital space.

Speaking at the 5th edition of the Bengal Global Business Summit(BGBS), Ambani said Reliance Jio’s investment stands at Rs 28,000 crore in the state, one tenth of the total investment it has so far done in the digital space.

In the midst of his hectic election campaigning before he became the deputy prime minister in the late 80s, Devi Lal declared he would launch an old-age pension scheme if he was elected.

There was an uproar over how it would be funded. The seasoned politician from Haryana was unperturbed by it all.

Defending itself against Standard Chartered Bank from diluting its bid for Essar Steel, ArcelorMittal on Thursday told the National Company Law Tribunal’s Ahmedabad Bench that lenders would gain more from the deal. The bank alleged that as against an upfront payment of Rs 42,000 crore, in addition to working capital adjustments of Rs 2,500 crore, the LN Mittal-led firm negotiated its bid downwards in collaboration with State Bank of India-led Committee of Creditors (CoC).

Shares of Tata Motors nosedived as much as 29.45 per cent to Rs 129 apiece on National Stock Exchange (NSE), their fresh 52-week low, a day after the auto major reported the biggest quarterly loss among Indian corporates as it was hit by asset impairment in its UK subsidiary, Jaguar Land Rover (JLR) Automotive in the December quarter.

Ford Motor Co said on Thursday it is investing more than $1 billion in its Chicago operations and adding 500 jobs as it prepares to launch three new SUVs this year and end production of the Taurus.

Ford said it is building a new body shop and paint shop at its Chicago Assembly plant, and making major modifications to the final assembly area. At Chicago Stamping, Ford is adding stamping lines, the company added.

Capital markets watchdog Sebi and stock exchanges have stepped up their live surveillance of intra-day trading in select stocks in the wake of increased volatility seen in these scrips; and any manipulator would face strict regulatory action.

Sources said the Securities and Exchange Board of India (Sebi) has asked the exchanges to beef up their vigil for any possible manipulation in stocks that are witnessing huge volatility and to report any irregularity urgently to the regulator for further action.

While power plants across the country are set to step up generation in view of the surge in electricity demand due to the upcoming general elections, dispatches of coal from the mines of Coal India (CIL) has fallen for the second straight month in January. The state-owned behemoth supplied 52.8 MT and 52.4 MT of the fuel in December and January, recording annual declines of 1.2 percent and 2.3 percent , respectively.

The government is weighing the possibility of the next phase of consolidation in the public sector banking space by amalgamating three lenders —Punjab National Bank (PNB), Oriental Bank of Commerce (OBC) and Punjab & Sind Bank (P&SB), sources told FE.

“An inter-ministerial group (called Alternative Mechanism) under Union minister Arun Jaitley will take a final call on this plan.

Disputing CRISIL’s report that TV bills may go up for a majority of subscribers after the new regulatory framework for broadcasting and cable services kicked in from February 1, 2019, the Telecom Regulatory Authority of India (Trai) on Wednesday said that initial data from broadcasters shows that bills have gone down by 10-15% in metros and 5-10% in non-metros.

In a reprieve to ICICI Bank, the Madras high court on Wednesday ruled that it finds no ground to interfere in the order of Chennai Debts Recovery Appellate Tribunal that allowed the recovery of Rs 222-crore debt from erstwhile retail chain Subhiksha Trading Services and its guarantors including the promoter, R Subramanian.

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